The cryptocurrency market has continued to slip downwards after a disappointing Christmas. Its total cap has fallen by around 3% in the past 24 hours, to $2.37 trillion. Most major cryptocurrencies are responsible for driving this dip, with bitcoin (BTC) and ethereum (ETH) each dropping by 2.5%. However, while this festive season has been an anticlimax, it’s now time to look ahead to next year. And it’s in this spirit that we’ve compiled a list of the 5 best cryptocurrency to buy for 100x returns. This will include coins that have the potential for big gains over medium-term and longer term timeframes.
5 Best Cryptocurrency to Buy for 100x Returns
1. Fantom (FTM)
FTM is up by 3.2% in the past 24 hours, rising to $2.29. This represents a 54% increase in the past week, and a 74% rise in the last 14 days. It is, however 33% down on the all-time high of $3.46 it set in October.
FTM’s technical indicators suggest a possible breakout. Its 30-day moving average (in red above) rose above its 200-day average (in blue) only yesterday. Similarly, its relative strength index (in purple) has climbed from a low of nearly 20 yesterday to just over 50 today, indicating rising momentum.
While FTM has risen by nearly 13,000% in the past year, there’s every reason to believe it could have a similarly strong 2022. It has now reached $5.87 billion in total value locked in, up from just over $1.5 billion at the start of October.
In parallel, Fantom’s ecosystem has expanded to include over 200 projects this year. Given that FTM functions as a governance, staking and fee token within the Fantom platform, this will result in serious growth. It also has a capped supply, something which will impose supply constraints.
Fantom Ecosystem🚀@FantomFDN Ecosystem is over 200+ projects now, and it is just the beginning. Imagine when people are moving to #Fantom Opera because of its vast potentials. That won’t be far away🚀#FTM #Fantom #BuildOnOpera $FTM pic.twitter.com/vYf4yO3ulU
— Fantom Daily (@fantom_daily) December 28, 2021
On top of this, Fantom has announced a steady stream of new pintegrations over the course of 2021. Most recently, it now supports the USDC stablecoin, thanks to a partnership between Allbridge and Beethoven-x.
💪 $USDC is now available on @FantomFDN!
🔥 Together with our partners @beethoven_x we are bridging $USDC to #Fantom.
👇 Full details: https://t.co/PQj25NkrxY
— Allbridge (@Allbridge_io) December 23, 2021
2. Sushi (SUSHI)
SUSHI is up to $9.28, having risen by 8.5% in the past 24 hours. It has also risen by 59% in the past week and by 61% in the past fortnight. However, it’s 60% below its ATH of $23.38, set back in March.
SUSHI’s RSI shows that it’s currently gaining strong momentum. In fact, it’s the best-performing top-1oo cryptocurrency over the past 24 hours. So we may see more traders and investors jump into its market.
SUSHI is the native token of SushiSwap, an Ethereum-based decentralised exchange that has $5.3 billion in total value locked in. It’s currently the 14th biggest platform in the DeFi ecosystem overall, according to DeFiLlama.
Given that SUSHI is still 60% down on its March ATH, we could easily see its price double at some point in the New Year. The coin is also recovering from an unexpected slump in early December, after SushiSwap’s CTO, Joseph Delong, resigned in the midst of governance conflicts.
This slump saw it fall to $5.11, but with SushiSwap’s community taking numerous active steps to resolve governance issues, it’s now returning to considerable strength.
There are new $SUSHI Governance votes up on https://t.co/etvopWjU0r by @SnapshotLabs$tSUSHI from @TokenReactor should now be eligible for voting. Be sure to claim your @poapxyz after you vote! pic.twitter.com/qWXpzATrVb
— SushiChef (@SushiSwap) December 23, 2021
In addition, SushiSwap continues to welcome new integrations, such as its tie-in with Fuse Network. In light of such growth, we’ve added SUSHI to our list of the 5 best cryptocurrency to buy for 100x returns.
3. The Sandbox (SAND)
At $6.04, SAND is in fact down by 3% in the past 24 hours. However, it has begun rising in the past hour, while it’s also 16% up in the past week and 26% up in the past fortnight.
SAND’s indicators suggest that it’s ripe for a rally. Its 30-day average appears to have hit a bottom relative to its 200-day. Its relative strength index has also begun climbing up, having fallen below 30 yesterday.
More generally, SAND is arguably one of the most promising altcoins in the market. It’s the native token of the Sandbox platform, which is an Ethereum-based metaverse and gaming ecosystem. It lets users develop games and metaverse-related experiences. As such, it’s well-positioned to capitalise on the growing mania for the metaverse, now that Facebook has changed its name to Meta.
Indeed, the Sandbox has been a chief beneficiary of growing interest in purchasing NFT-based virtual land. It sold one plot of land for $4.3 million at the start of December, and racked up $86 million in land sales in the last week of November alone. This is more than any other metaverse-related platform, including Decentraland.
4. Cardano (ADA)
ADA has fallen to $1.42 in the past 24 hours, a drop of 2.8%. This represents a 10% rise in the past week, yet an 11% fall in the past month.
ADA’s indicators are in a good position. Its 30-day average has sunk well below its 200-day, suggesting that it may begin rising again. Likewise, its RSI is surging after falling below 30 yesterday.
ADA is also due a big rally at some next year. It’s 54% below its all-time high of $3.09, set in September. This was just before Cardano launched smart contract capabilities, and despite widespread expectations of a big surge in price, this surge didn’t materialise.
However, that’s because the ecosystem that will use smart contracts is still under development. It will therefore take some time before we see demand for ADA surge, although with over 100 applications in the works, this seems almost inevitable.
What does a thriving ecosystem look like? With 100+ DApps already under active development, we’re highlighting just some of the growth in our ecosystem over the next 30 days ☀️🌱 So you may ask… Who is #BuildingOnCardano? 👇
— Input Output (@InputOutputHK) December 26, 2021
In fact, Cardano’s weekly Github commits have been numbering over 2,000 for several weeks now, testifying to its growing ecosystem.
Mid-week repo update: #Cardano code forges continue to burn bright 🔥 with 2,292 GitHub commits this week & counting…
To follow the latest code commits, bookmark the excellent https://t.co/Tj4Ebgc65u #Cardano $ADA pic.twitter.com/P8nrh7Yrpd
— Input Output (@InputOutputHK) December 8, 2021
Because of the extent of Cardano’s development, ADA is certainly of the altcoins to watch for 2022. This is why it’s also one of our 5 best cryptocurrency to buy for 100x returns, seeing as how cheap it is right now.
5. Iota (IOTA)
IOTA is up by 3.7% in the past 24 hours, rising to $1.49. It’s also up by 13% in the past week and by 10% in the past month. On the other hand, it remains 71% below its record high of $5.25, set way back in December 2017.
IOTA therefore has a long way to go, but this should be taken as a positive sign for investors. So should the fact that the Iota has successfully rolled out staking for IOTA, with early participants receiving SMR and ASMB — which can be used with Iota sister networks Shimmer and Assembly — as a reward. This is a big part of the reason why IOTA has risen consistently in the past couple of weeks.
🚀 $SMR and $ASMB staking rewards for $MIOTA start NOW 🚀#IOTA teams worked tirelessly, and we are humbled by our community’s excitement for the dawn of @shimmernet & @assembly_net 🌅.
Stay tuned, and you can always join us mid-stake 👇https://t.co/9T7eRfoKs1 pic.twitter.com/9HQlM6eAGq— IOTA (@iota) December 28, 2021
Iota’s launch of the Shimmer and Assembly networks also offers an indication of its ambitious long-term plans. These will bring new features to the Iota ecosystem, with Assembly in particular adding smart contract capabilities. With the addition of such functions, we could see demand for IOTA increasing significantly in future. This is why it’s one of our 5 best cryptocurrency to buy for 100x returns.
Capital at risk
Read more:
Credit: Source link
